Coop to pay former boss £600k despite appeal

The Channel Islands Coop will have to pay its former chief executive £600,000 of his compensation payout, despite its appeal against the ruling being yet to be heard.

Colin MacLeod won a court case against the Coop last year, claiming the company had treated him unfairly left him with a psychiatric injury. The Coop is challenging the decision.

MacLeod, who was chief executive of the Coop for 10 years, described the legal battle with the company as "long and excruciating".

In a recent application, MacLeod asked the court to release part of his compensation early so he could pay his legal feels of more than £200,000 and repay a £300,000 loan from his parents.

The court ruled the Coop should pay MacLeod £600,000 and noted his property provided sufficient security if he lost the case in the appeal courts.

The judge said releasing part of the payment was "an appropriate balancing exercise" and that it was right to provide MacLeod "access to funds" during a time which could leave him "out of funds for a number of years".

The court said that with MacLeod putting his property up as equity if he lost the appeal would provide Coop "more than adequate protection" to recover the sums if it was successful in its appeal.

The Channel Islands Coop said it acknowledged the court's judgement and respected the legal process, adding: "We have lodged an appeal to the original judgement and those proceedings remain ongoing.

"As the matter is still before the courts, it would not be appropriate for us to comment further on the case at this stage."

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